Key Takeaways:
Apex reported a significant rare earth discovery at its Rift project, with initial assays showing an 81.6-meter intersection grading 2.02% total rare earth oxides (REO).
The results, announced by the company on April 7, 2026, are from the first drill hole, RIFT26-002, of the current program and confirm an extension of the main mineralized body.
The main intercept contained a higher-grade section of 50.9 meters at 2.40% REO. The company highlighted the presence of a highly enriched Neodymium-Praseodymium (NdPr) zone, which makes up a significant portion of the total REO content.
These high-grade results could significantly de-risk the Rift project and enhance its economic potential, as NdPr is a critical component in high-strength magnets for electric vehicles and wind turbines.
The discovery is a major step forward for Apex, potentially leading to a substantial re-rating of the company's valuation as it proves the resource potential at Rift. Grades above 2% REO are considered high and compare favorably to many early-stage rare earth projects globally, which could attract significant investor interest to the junior mining sector.
Exploration for rare earth elements has become a key focus for governments and manufacturers seeking to secure supply chains for critical technologies outside of traditional producers. The positive results from Rift extend the known strike length of the mineralized zone and will be followed by further drilling to define the scale of the deposit. Investors will be closely watching for upcoming assay results from the remainder of Apex's drill program.
This article is for informational purposes only and does not constitute investment advice.
